The federal government recently announced a new Start-Up Visa Program geared toward recruiting innovative immigrant entrepreneurs who will help create new jobs and support economic growth.
Start-Up Visa Program
Beginning April 1, 2013, the new program will link immigrant entrepreneurs with private sector organizations that have experience working with start-ups. These relationships will be created to help entrepreneurs navigate the Canadian business environment and launch innovative companies that employ people in Canada.
What is Required?
Foreign entrepreneurs will require the support of a Canadian angel investor group, venture capital fund or a business incubator before they can apply to the Start-Up Visa Program. They must also meet the language proficiency and educational requirements of the program.
Initially, Canada’s Venture Capital & Private Equity Association and the National Angel Capital Organization will be partners in the program, and only members of these organizations will be able to participate in the program at its outset. These partner associations will help the federal government ultimately determine which of their members should be eligible for the visa program.